Mobile marketing company Velti acquired mobile CRM firm Air2Web for about $19 million in cash. The move is aimed at expanding Velti's global footprint, especially in India, and building its business among carriers and different industry categories such as financial services. Air2Web counts AT&T, Comcast, American Express, HSBC, Barclays Bank and Citigroup among its clients.
Through the merger, Air2Web said its customers would benefit from Velti's full range of mobile marketing services including media planning and buying, ad serving, development of mobile sites and landing pages, and analytics. --Mark Walsh